Tatneft Board of Directors resolutions
Almetyevsk. Tatneft Board of Directors resolved to convene an extraordinary shareholders meeting and recommended to pay the dividends for the 6 months of 2019.
On 5 August 2019 the Board of Directors of Tatneft (by proxy voting) resolved on its own initiative to convene an extraordinary shareholders meeting and recommended to the shareholders to approve the dividends based on the results for the 6 months of 2019 in the amount of 40.11 Rubles per each preferred and ordinary share (4011% of nominal value of each share), which represents in aggregate approximately 100% of net income of PJSC Tatneft under Russian Accounting Standards (RAS) in the said period. Upon determining the amount of dividends for the 6 months of this year the Board of Directors relied on the Company’s dividend policy, taking into account the operating results in the respective period, free cash flow projections and available sources of financing for the operating and investing activities of Tatneft Group. The Board of Directors proposed to the extraordinary shareholders meeting to approve 27 September 2019 as the date on which persons entitled to receive the dividends based on the 6 months 2019 results shall be determined.
The extraordinary shareholders meeting will be held on 13 September 2019 by proxy voting. The list of persons entitled to participate in the extraordinary shareholders meeting will be set as of 19 August 2019.
Forward-looking statements and waiver of liability: This press release contains statements about future events and expectations that are forward-looking in nature. Any statement in this press release that is not a statement of historical fact is a forward-looking statement that involves known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements expressed or implied by such forward-looking statements to differ. PJSC Tatneft assumes no obligations to update the forward-looking statements contained herein to reflect actual results, changes in assumptions or changes in factors affecting these statements. The amounts and percentages mentioned or referred to in this press release could be presented after rounding and, therefore, they might differ from the actual sums and results contained in the Company’s reporting documents. PJSC Tatneft shall bear no responsibility to correct or reimburse any sums which might constitute the difference between the amounts mentioned in this press release and those in respective reporting documents, and all payments are made by PJSC Tatneft exclusively on the basis of decisions made by its authorised corporate bodies in the amounts and within the corporate proceedings set out in such decisions.